Complexity with simplicity
Projecting what pensions illustrations will look like in 10 years time is fraught with danger. Suffice to say the industry never moves as fast as you expect. It is our belief that inevitably, as our financial lives become more complicated – so too will our requirements of retirement planning products. More importantly, we think people are going to increasingly demand more holistic and dynamic views of their financial status ‘in the round’. Delivering all this information in a way which does not bamboozle the customer will be the key challenge in illustrations in the next 10 years. So the challenge is then to deliver this complexity in a simple enough way for customers to access and make sense of it wherever they are, on any connected device of their choice. Specifically customers want to make sure their pensions and investment products are performing well and delivering good value for money. The other challenge for illustrations is to ensure that they remain easily auditable and compliant with regulatory requirements just as legacy Statutory Money Purchase Illustrations (SMPIs) are today.
Posts Tagged ‘illustration’
Future of disclosure and illustrations
Sunday, October 3rd, 2010
Scheme Pension Illustrations
Tuesday, June 23rd, 2009
Rowanmoor Pensions has rolled out a pension scheme illustration service to allow advisers to offer clients a projection of their income from a scheme pension compared to USP and ASP.
Designed for anyone wanting to set up a Rowanmoor Pensions SIPP or Family Pension Trust, the service has been launched in response to increased demand for scheme pensions. The boost in pensioner interest in scheme pensions is linked to the potential for taking higher levels of income and the fact it can be paid with a guaranteed period of up to ten years.
Comparative quotes, comparative illustrations
Tuesday, July 8th, 2008
I’ve just got back from a brainstorm meeting with a wrap provider … who are doing quite nicely, looking into providing a comparitive illustration services to show the difference between on and off plan tax wrappers and funds. The solution we provide will have to show the full effect of charges on both wrappers as seperate socumetns and then a summary – more easier to read docume twith graphics to illustrate the savings by going on plan.
